Author: roymorgansocial

Salaries take a dive as profits fall

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Original article by Katie Walsh
The Australian Financial Review – Page: 32 : 31-Jul-15

Data from Mahlab Recruitment shows that Australian lawyers’ salaries have risen by an average of 3.4 per cent in 2015, compared with 3.8 per cent growth in 2014. A Mahlab report also notes that the salaries of partners at some leading law firms have fallen significantly in the last three years. Meanwhile, the growing trend for top law firms to merger with offshore peers has prompted some partners to leave and join smaller firms that have stayed independent.

CORPORATES
MAHLAB RECRUITMENT, HERBERT SMITH FREEHILLS PTY LTD, KING AND WOOD MALLESONS, ASHURST AUSTRALIA, ALLENS, K&L GATES LLP, NORTON ROSE FULBRIGHT AUSTRALIA, DLA PIPER, LINKLATERS LLP

ANZ offers women free super advice

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Original article by Ruth Liew
The Australian Financial Review – Page: 3 : 29-Jul-15

It is estimated that Australian women who work full-time are paid about $A15,000 less each year than their male peers. Women also tend to have about 50 per cent less in superannuation upon retirement. The ANZ Bank has launched initiatives aimed at addressing this imbalance. Female customers whose super balance is less than $A50,000 will be offered free financial advice. ANZ’s female employees will also be paid an additional $A500 in super each year.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, QUEENSLAND. DEPT OF THE PREMIER AND CABINET

Free Windows 10 upgrade for millions

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Original article by John Davidson, Yolanda Redrup
The Australian Financial Review – Page: 3 : 29-Jul-15

Data from Net Market Share suggests that just eight per cent of PCs use the Windows 8 operating system, which was introduced in 2012. In contrast, 67 per cent of PCs still use Windows 7, while the much older Windows XP is installed on 13 per cent of PCs. Microsoft aims to encourage all Windows users to upgrade to Windows 10 by allowing them to upgrade to the new operating system for free.

CORPORATES
NET MARKET SHARE, MICROSOFT CORPORATION, BUSINESS RESOURCE SERVICES, OZFOREX GROUP LIMITED – ASX OFX, APPLE INCORPORATED, GOOGLE INCORPORATED

Deloitte’s dumping of performance reviews leaves employees ecstatic

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Original article by Agnes King
The Australian Financial Review – Page: 14 : 29-Jul-15

Big four accounting firm Deloitte Australia will completely phase out traditional twice-yearly employee performance reviews by mid-2016. The firm is testing a new system of ongoing performance appraisals in its audit, risk and consulting divisions, which employ about 1,500 people. Deloitte will eventually roll out the new system for all 6,000 employees. Fairfax Media CEO Greg Hywood also favours a system of continuous performance appraisal.

CORPORATES
DELOITTE TOUCHE TOHMATSU LIMITED, FAIRFAX MEDIA LIMITED – ASX FXJ, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, AMERICAN CHAMBER OF COMMERCE IN AUSTRALIA, MICROSOFT CORPORATION, ACCENTURE AUSTRALIA LIMITED, SEEK LIMITED – ASX SEK, CISCO SYSTEMS INCORPORATED

Suppliers shocked as DJs and Myer dump brands

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Original article by Sue Mitchell
The Australian Financial Review – Page: 21 : 29-Jul-15

Myer Holdings recorded sales growth of 1.7 per cent in the 10 months to April 2015. The department store group hopes to boost sales by introducing a range of new brands, including Calvin Klein White Label and Oscar de la Renta. However, this will be at the expense of about 100 brands which will no longer be stocked. David Jones also discontinued some brands earlier in 2015. It recorded sales growth of more than 10 per cent in the first half of 2015.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, DAVID JONES LIMITED, CALVIN KLEIN INCORPORATED, OSCAR DE LA RENTA, DANIEL AVAKIAN, AJE, JACK AND JONES, FCUK, COUNTRY ROAD LIMITED, TRENERY, SEED

Telstra TV challenges tech giants

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Original article by David Ramli, Max Mason
The Australian Financial Review – Page: 1 & 8 : 29-Jul-15

Telstra will launch the Roku 2 video streaming device in Australia later in 2015. It will allow subscribers to video-on-demand services such as Netflix and Presto to view them on a TV. The new Telstra TV service will be pitched at consumers who do not have pay-TV, and Telstra is confident that it will have no impact on the customer base of Foxtel, in which the telco has a 50 per cent stake. Roku 2 is already widely used in countries such as the US and the UK, and competes with similar products from Google and Apple.

CORPORATES
TELSTRA CORPORATION LIMITED – ASX TLS, NETFLIX INCORPORATED, PRESTO ENTERTAINMENT PTY LTD, STAN ENTERTAINMENT PTY LTD, FOXTEL MANAGEMENT PTY LTD, APPLE INCORPORATED, GOOGLE INCORPORATED, YOUTUBE INCORPORATED, NEWS CORP AUSTRALIA PTY LTD, FAIRFAX MEDIA LIMITED – ASX FXJ, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, DELOITTE TOUCHE TOHMATSU LIMITED, FETCHTV PTY LTD, IINET LIMITED – ASX IIN, SINGTEL OPTUS PTY LTD, DODO INTERNET PTY LTD

Chinese top investors in commercial sites

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Original article by Mercedes Ruehl, Robert Harley
The Australian Financial Review – Page: 36 : 29-Jul-15

Colliers International estimates that Chinese investors have accounted for more than $A4bn worth of commercial property deals in Australia so far in 2015. Colliers’ Nerida Conisbee expects Chinese activity in the local market to keep increasing. Mark Wizel of CBRE also notes growing interest among Chinese investors, particularly office buildings priced below $A50m and hotels.

CORPORATES
COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA) LIMITED, CBRE PTY LTD, CHINA INVESTMENT CORPORATION, PROPERTYLINK PTY LTD, PROPERTY COUNCIL OF AUSTRALIA LIMITED, JLL HOTELS

Super board overhaul will cost up to $168m

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Original article by Joanna Mather
The Australian Financial Review – Page: 7 : 29-Jul-15

Industry Super Australia has estimated that implementing the Federal Government’s governance reforms for the superannuation industry will cost between $A89m and $A168m. Amongst other things, super funds will have to recruit and train new directors in order to comply with the requirement that 33 per cent of directors – and the chair – are independent. Australian Institute of Company Directors CEO John Brogden rejects suggestions that directors will demand higher fees for being on the board of a super fund.

CORPORATES
INDUSTRY SUPER AUSTRALIA PTY LTD, AUSTRALIAN INSTITUTE OF COMPANY DIRECTORS, FINANCIAL SERVICES COUNCIL, AUSTRALIA. DEPT OF THE TREASURY

Which Australian voters care most about helping the world’s poorest people?

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 28-Jul-15

A Roy Morgan Single Source survey has found that 27 per cent of Australian electors whose first federal voting preference is the Liberal-National Party say the Government should "increase overseas aid to help reduce global poverty". This compares with 53 per cent of Australian Labor Party voters and 75 per cent of Greens voters. The survey, which was carried out in the year to March 2015, also shows that L-NP voters are the least likely of major party voters to agree that "I have a responsibility to do what I can" to help the world’s poorest people (40 per cent), behind 47 per cent of electors whose first preference is the ALP and 62 per cent of those who prefer the Greens.

CORPORATES
ROY MORGAN RESEARCH LIMITED, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS

BHP to cut 37pc of jobs in Melbourne

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Original article by Matthew Stevens, Amanda Saunders
The Australian Financial Review – Page: 15 & 20 : 29-Jul-15

BHP Billiton is expected to retrench, relocate or redeploy about 100 employees at its head office in Melbourne in the next 18 months. The resources group has previously shed about 80 jobs at the Melbourne office, and the latest proposed cuts are likely to reduce staff numbers to about 300. BHP also intends to make cutbacks in other areas, including its legal and corporate affairs teams, while its Treasury division will be relocated to the UK.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, SOUTH32 LIMITED – ASX S32